BITCOIN

HansOndabush

Scottex99 said:

Seriously you should. The charts tell you where the price action has been and often where you can expect it to be again. If you had done some technical analysis on Bitcoin you would have saved yourself $$$$'s

Lol yeah coz its that simple.

Had 6 figs wiped off my portfolio in the last week or so. Happens. I'm not even trying to time the market because I'm THAT bullish long term

There was a classic pattern on bitcoin there for all to see. A week ago you could have got out when the neckline of that pattern broke. Too late now but don't ignore the technical signals next time. It's better to see what the market is telling you rather than follow a cult mantra.

Scottex99

HansOndabush said:

Scottex99 said:

Seriously you should. The charts tell you where the price action has been and often where you can expect it to be again. If you had done some technical analysis on Bitcoin you would have saved yourself $$$$'s

Lol yeah coz its that simple.

Had 6 figs wiped off my portfolio in the last week or so. Happens. I'm not even trying to time the market because I'm THAT bullish long term

There was a classic pattern on bitcoin there for all to see. A week ago you could have got out when the neckline of that pattern broke. Too late now but don't ignore the technical signals next time. It's better to see what the market is telling you rather than follow a cult mantra.

Wait, hold up.

You study the charts and are telling me where the price was obviously going yet you don’t even understand how it works, whether it’s money or not etc?

So you do actually hold BTC then? And if you don’t, what you looking at the charts for?! 🤣

Scottex99

Or much more likely you’re just regurgitating some crap that you read on a forum?

Oh and assuming you shorted down to 30k then and made an absolute killing?

You defo dont know what stablecoins are so you didnt Tether up or move into DAI, so you must have been shorting   

HansOndabush

I already explained I dont trade or invest in crypto; to me it's a bubble. That doesn't mean it doesn't interest me as the latest mania like .com, tulips, and the South sea bubble. It takes less than 5 mins to look at the Bitcoin chart and see the change in sentiment. We may continue to bounce here for a short while but the next big move is likely down to $20K and no I am not shorting it. Crypto is a market I am staying clear of.

FYI I am bullish on gold, silver and related mining stocks plus non-US income yielding stocks. I also dip in and out of the bond market.

Atlas234

HansOndabush said:

I already explained I dont trade or invest in crypto; to me it's a bubble. That doesn't mean it doesn't interest me as the latest mania like .com, tulips, and the South sea bubble. It takes less than 5 mins to look at the Bitcoin chart and see the change in sentiment. We may continue to bounce here for a short while but the next big move is likely down to $20K and no I am not shorting it. Crypto is a market I am staying clear of.

FYI I am bullish on gold, silver and related mining stocks plus non-US income yielding stocks. I also dip in and out of the bond market.

Alot of analysts are predicting a big move up from here, comparing it to the last bull run

thegentleway

darren232002 said:

thegentleway said:

They do a good job against inflation but yes they are not a get rich quick scheme.

Gold 0% for a decade. Inflation also 0%? By 'good job' I assume you mean 'can't keep up'

thegentleway said:

Nice switch and bait.

"I have no counter argument and don't understand how you can generate a return from a digital asset, so I'll pretend its irrelevant"

thegentleway said:

See you then mate. It would be cool if it hits 6 digits. Plenty of my friends have bet more than they can afford to lose on it.

Attempts to set himself up for a win-win no matter what happens to the price of BTC.

0% inflation adjusted. So it has done its job against inflation. Some decades will be better than others. Take the last 30 years and it’s tripled in price (inflation adjusted).
——
There are counter arguments to staking yes (counterparty risk, hacking, etc...). It doesn’t change the fact that Bitcoin just sits there not earning (in cold storage). If you stake it in an exchange you are taking loads of risk. You can’t compare coupons or dividend to this interest as you can’t lose your bond or share but you can lose your Bitcoin. Closest thing would be P2P. 
——
If you want to twist it then yeah sure I’m setting myself up for a win-win! I actually think blockchain is pretty cool. As far as I know, writing started with keeping ledgers. There are lots of opportunities and it’s exciting but there are some major stumbling blocks, e.g. all the coal being burned for mining, the fact that you have to ask permission from a third party (exchange) for fiat-to-crypto or for crypto-to-crypto, smart contracts are worthless without the specific coin’s widespread adoption, etc... but sure let’s switch and bait to the huge gains and call me poor/stupid instead. At the end of the day crypto cannot completely replace fiat unless governments decide to collect taxes in crypto. If they do it’ll be their own crypto. So people will always have a need for government issued currency (unless they are criminals obviously but even then the lack of privacy is an issue).

Scottex99

It takes less than 5 mins to look at the Bitcoin chart and see the change in sentiment. We may continue to bounce here for a short while but the next big move is likely down to $20K and no I am not shorting it. Crypto is a market I am staying clear of.

Haha change in sentiment because its already fallen off a cliff 40% earlier in the day?
This thread keeps on getting more bizarre, now people are saying they can easily read the charts and predict what BTC will do but also don't trade or even understand what all the coins/tokens even do. Its super weird.

It won't go to $20k, I hope it does though because I'll give money to charity and ape into the dip. Then I'll give more at $100k, coolios.

Going to a crypto conference in Miami in 2 weeks, will see if I can find an actual real crypto company anywhere and maybe take a photo of them just for you guys

thegentleway

Scottex99 said:

It takes less than 5 mins to look at the Bitcoin chart and see the change in sentiment. We may continue to bounce here for a short while but the next big move is likely down to $20K and no I am not shorting it. Crypto is a market I am staying clear of.

Haha change in sentiment because its already fallen off a cliff 40% earlier in the day?
This thread keeps on getting more bizarre, now people are saying they can easily read the charts and predict what BTC will do but also don't trade or even understand what all the coins/tokens even do. Its super weird.

It won't go to $20k, I hope it does though because I'll give money to charity and ape into the dip. Then I'll give more at $100k, coolios.

Going to a crypto conference in Miami in 2 weeks, will see if I can find an actual real crypto company anywhere and maybe take a photo of them just for you guys

Nobody can predict where bitcoin is going, there are no fundamentals. Your $100k predictions are just as silly as $20k ones. It's anybody guess.
Enjoy Miami, I'm very jealous!

lozzy1965

darren232002 said:

lozzy1965 said:

Isn't Bitcoin specifically 'money'?  That's what one does with money, buy things.  It becomes a bit strange when the currency one uses to buy things becomes, in itself, collectable though .

Jesus wept. Facepalm.jpg

Something else that has already been addressed ITT...

Hmmm.  Is it that obvious that Bitcoin isn't just money?  Innocent mistake on my part and I apologise.  I have an open mind on the subject and fully admit to not understanding it at all.  A quick Google throws this up though, so is it any wonder I am confused!

Bitcoin is a decentralized digital currency that you can buy, sell and exchange directly, without an intermediary like a bank. Bitcoin's creator, Satoshi Nakamoto, originally described the need for “an electronic payment system based on cryptographic proof instead of trust.”19 Apr 2021

What Is Bitcoin And How Does It Work? – Forbes Advisor

Adyinvestment

Was listening to a view on Crypto that intrigued me.

At some point (perhaps quite soon) will the Crypto market be "Too big to fail"?

The whole of the US stock market is approx $40 Trillion and is deemed too big to fail - the powers that be would never allow the stock market to fail.

Crypto is approx $2 Trillion and growing fast, as more large companies/funds/super wealthy get involved this will drive more large companies/funds/super wealthy to get involved as the truly super wealthy will not want to risk missing out on something that could potentially rival/beat them - at some point the Crypto market will be so large with so many people having a vested interest that it will become..."Too big to fail"

Interesting point of view.